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Top related persons:
Mike Blake - 1 Lane Riggs - 1 Valero - 1 refiners - 1 TD Cowen - 1 Jason Gabelman - 1 Arunima Kumar - 1 Sriraj - 1
Top related locs:
Valero Encinitas , California U.S Saudi Arabia Russia Green Diesel Port Arthur U.S . East Coast San Antonio , Texas
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Valero Energy Corporation - 1 REUTERS - 1 Companies Valero Energy Corp - 1 Refiner Valero Energy - 1 Valero - 1 Green Diesel - 1 U.S . - 1 Thomson - 1

Search resuls for: "Refiner Valero Energy"


5 mentions found


☆ Valero tops profit estimates in strong start to U.S. refiner earnings
  + stars: | 2023-10-26 | by ( Arunima Kumar | ) www.reuters.com   time to read: +2 min
The logo for Valero Energy Corporation is shown at a Valero gas station in Encinitas, California, U.S., May 2, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Valero Energy Corp FollowOct 26 (Reuters) - Refiner Valero Energy (VLO.N) beat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies. For the current quarter, Valero expects refining throughput between 2.93 million and 3.04 million bpd. The Diamond Green Diesel Port Arthur plant, which started up in the fourth quarter of 2022, boosted the sales volumes, Valero said. The 3-2-1 crack spread, a proxy for refining margins, fell around 35% during the July-September quarter.
Persons: Mike Blake, Lane Riggs, Valero, refiners, TD Cowen, Jason Gabelman, Arunima Kumar, Sriraj Organizations: Valero Energy Corporation, REUTERS, Companies Valero Energy Corp, Refiner Valero Energy, Valero, Green Diesel, U.S ., Thomson Locations: Valero, Encinitas , California, U.S, Saudi Arabia, Russia, Green Diesel Port Arthur, U.S . East Coast, San Antonio , Texas, Bengaluru
☆ Valero Energy CEO Joseph Gorder to step down, insider Riggs to succeed
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: 1 min
Companies Valero Energy Corp FollowMay 9 (Reuters) - U.S. refiner Valero Energy Corp (VLO.N) said on Tuesday CEO Joseph Gorder would step down from the role on June 30 and named Chief Operating Officer Lane Riggs as his successor. Gorder has led Valero as CEO since May 1, 2014 and served as chairman of the board since Dec. 31, 2014. Gorder will remain as executive chairman, the company said. Riggs has been with Valero since 1989 and held several leadership positions in the company including overseeing refining operations, crude and feedstock supply, and planning and economics. He also served on the board of Valero Energy Partners GP LLC from 2014 to 2019.
☆ Crude prices up 2% on rising U.S. oil demand and lower output
  + stars: | 2023-04-28 | by ( Scott Disavino | Thomson Reuters | Covers The North American Power | ) www.reuters.com   time to read: +2 min
TOKYO, April 28 (Reuters) - Oil prices gained about 2% on Friday after U.S. data showed crude output was declining while fuel demand was growing. Brent crude futures rose $1.16, or 1.5%, to $79.53 a barrel by 12:24 p.m. EDT (1624 GMT), while West Texas Intermediate (WTI) crude rose $1.99, or 2.7%, to $76.75. "But, today there were headlines showing there may be a solution to First Republic's problems and data pointing to a rise in oil demand and a decline in output," Flynn said. In the same report, the EIA said U.S. product supplied of crude and petroleum products - a proxy for oil demand - rose to nearly 20 million bpd and finished motor gasoline rose to 8.7 million bpd in February, the highest for both since November 2022. Oil companies like Exxon Mobil Corp(XOM.N), meanwhile, are riding a wave of strong demand and have held the line on cost-cutting implemented when fuel demand collapsed during COVID-19 lockdowns.
☆ Vanguard's Galloway: climate group exit does not change environmental concerns
  + stars: | 2023-04-15 | by ( Ross Kerber | Industry Insight | Reuters Professional | ) www.reuters.com   time to read: +2 min
"Climate change is an existential risk and a risk to investor returns," said John Galloway, who oversees the Pennsylvania firm's engagement and proxy voting at portfolio companies, in an interview by teleconference. Galloway said in practice the proposal, which won 42% support, would have required a wholesale change to Valero's business, a decision best left to the board. "A proposal that’s asking a company to make a change that’s changing its strategy is not a proposal we're likely to support," Galloway said. U.S. Republican politicians applauded the move as responsive to their efforts to counter many companies' treatment of environmental, social and governance (ESG) matters. Galloway said the decision was driven with an eye on the varied views of its largely retail client base.
☆ ADNOC eyes valuation of at least $50 bln for its gas business - sources
  + stars: | 2023-01-30 | by ( Hadeel Al Sayegh | ) www.reuters.com   time to read: +3 min
The state oil giant announced in November it was combining its gas processing arm and its liquefied natural gas (LNG) subsidiary into a single listed entity. ADNOC is eyeing a valuation of at least $50 billion for ADNOC Gas, though deliberations over valuations have not finalised and the company is yet to determine the size of the offering, said the sources close to the matter, declining to be named as the matter is not public. They said an initial public offering of ADNOC Gas could launch as soon as February, ahead of a slowdown in market activity during the Muslim fasting month of Ramadan which begins end of March. At $50 billion and above, ADNOC Gas' valuation would be broadly comparable to Italian energy group Eni (ENI.MI), U.S. Over the past two years, ADNOC listed petrochemicals company Borouge (BOROUGE.AD), fertilisers and clean ammonia products maker Fertiglobe (FERTIGLOBE.AD) and ADNOC Drilling (ADNOCDRILL.AD).
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